International Journal of Innovative Engineering, Technology & Science

Impact of Non-Oil Export on Economic Growth in Nigeria

Impact of Non-Oil Export on Economic Growth in Nigeria

Publication Date : 08/03/2021

Author(s) :

Udechukwu, C. A, Okoli, C. N.

Volume/Issue :
Volume 4
Issue 1
(03 - 2021)

Abstract :

The study examined the impact of Non-Oil Export in Nigeria over the period of 1980-2017.The specific objectives of the study are to examine the impact of Non-Oil export in Nigeria over the period under study and to ascertain the direction of causality between the variables of interest. The study employed the econometric tools for testing for the existence of unit root in the time series variables and found that the variables are all stationary at order one I(I). Furthermore, ECT and ECM were utilized in testing for the long run equilibrium shock. From the regression result, it was found that Non- oil export has no significant impact on the economic growth within the period under study. The result of the granger causality show that the direction of causality were in some variables ‘bi’, ‘Uni’ and ‘Zero‘ direction of causality. Since the result of the study depict that the non-oil export has no significant impact on Economic growth in Nigeria, there is yet serious need for the government to create favorable policy that will enable investors to invest in the area of non-oil export. Also Government should revisit and refurnish policy guiding loan access for ease access to local investors particularly to those of Agricultural farmers, industries and other sources which in turn will tell positively on the Nigeria Economy.

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